TSI consultancy: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
TSI consultancy
Largest movements
- Current investments +€75,000
new in 2025: €75,000
- Cash -€56,857
down €56,857 (-46.9%), from €121,209 to €64,351
mainly Contributions, distributions and other (-€102,291) and Current investments (-€75,000)
- Receivables within one year +€35,623
up €35,623 (+54.6%), from €65,219 to €100,842
of which Other amounts receivable: +€40,214
- Other debts +€110,521
up €110,521 (+502.4%), from €22,000 to €132,521
- Reserves -€63,710
down €63,710 (-18.3%), from €347,424 to €283,714
of which Distributable reserves: -€63,710
- Gross operating margin -€48,281
down €48,281 (-53.6%), from €90,051 to €41,770
- Taxes -€16,784
down €16,784 (-54.8%), from €30,617 to €13,833
- Financial income +€11,682
up €11,682 (+302.6%), from €3,861 to €15,542
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €418,467 | €470,140 | +€51,673 | +12.3% |
| Fixed assets | 21/28 | €6,924 | €4,899 | -€2,024 | -29.2% |
| Tangible fixed assets | 22/27 | €6,924 | €4,899 | -€2,024 | -29.2% |
| Furniture and vehicles | 24 | €1,163 | €232 | -€931 | -80.1% |
| Other tangible fixed assets | 26 | €5,761 | €4,667 | -€1,093 | -19.0% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €411,544 | €465,241 | +€53,697 | +13.0% |
| Amounts receivable after more than one year | 29 | €225,000 | €225,000 | = | 0.0% |
| Other amounts receivable | 291 | €225,000 | €225,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €65,219 | €100,842 | +€35,623 | +54.6% |
| Trade receivables | 40 | €32,419 | €27,828 | -€4,591 | -14.2% |
| Other amounts receivable | 41 | €32,800 | €73,014 | +€40,214 | +122.6% |
| Current investments | 50/53 | - | €75,000 | +€75,000 | |
| Cash at bank and in hand | 54/58 | €121,209 | €64,351 | -€56,857 | -46.9% |
| Deferred charges and accrued income | 490/1 | €116 | €49 | -€68 | -58.3% |
| Total equity and liabilities | 10/49 | €418,467 | €470,140 | +€51,673 | +12.3% |
| Equity | 10/15 | €359,824 | €296,114 | -€63,710 | -17.7% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €347,424 | €283,714 | -€63,710 | -18.3% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €345,564 | €281,854 | -€63,710 | -18.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €58,644 | €174,027 | +€115,383 | +196.8% |
| Amounts payable within one year | 42/48 | €58,644 | €174,027 | +€115,383 | +196.8% |
| Trade debts | 44 | €528 | €2,176 | +€1,648 | +312.2% |
| Suppliers | 440/4 | €528 | €2,176 | +€1,648 | +312.2% |
| Taxes, remuneration and social security | 45 | €36,116 | €39,330 | +€3,214 | +8.9% |
| Taxes | 450/3 | €36,116 | €39,330 | +€3,214 | +8.9% |
| Other amounts payable | 47/48 | €22,000 | €132,521 | +€110,521 | +502.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,024 | €2,024 | = | 0.0% |
| Other operating charges | 640/8 | €2,126 | €2,271 | +€145 | +6.8% |
| Gross operating margin | 9900 | €90,051 | €41,770 | -€48,281 | -53.6% |
| Operating profit (loss) | 9901 | €85,901 | €37,474 | -€48,426 | -56.4% |
| Financial income | 75/76B | €3,861 | €15,542 | +€11,682 | +302.6% |
| Recurring financial income | 75 | €3,861 | €15,542 | +€11,682 | +302.6% |
| Financial charges | 65/66B | €1,352 | €602 | -€750 | -55.5% |
| Recurring financial charges | 65 | €1,352 | €602 | -€750 | -55.5% |
| Profit (loss) for the period before taxes | 9903 | €88,409 | €52,414 | -€35,995 | -40.7% |
| Income taxes | 67/77 | €30,617 | €13,833 | -€16,784 | -54.8% |
| Profit (loss) for the period | 9904 | €57,792 | €38,581 | -€19,211 | -33.2% |
| Profit (loss) for the period to be appropriated | 9905 | €57,792 | €38,581 | -€19,211 | -33.2% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.